Friday, 26 August 2011 02:53

'Europe's Financial System Is Insolvent': CIO Guggenheim

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"If we mark the assets of the European banks to market, the liabilities of the banks exceed the assets well beyond their capital cushion."
 
In other words, "The derivatives bubble is imploding." This weekend is the perfect storm. -- MCR
 
 

 

Last modified on Friday, 26 August 2011 03:03
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